The organization of teamwork through Data Room platforms significantly expands the range of opportunities for companies to implement their business tasks. This article is a guide for Data Room installation.

Virtual Data Room – a new era of collaboration

As the external environment becomes more uncertain and volatile, there is a growing need in organizations for increased adaptability. An increasing number of companies are beginning to transform their structure in the direction of networked forms of organization. The proliferation and development of networked organizations imply the widespread use of digital platforms of team models. One such solution is Virtual Data Room.

Data Room software allows you to model the company’s processes and automate their execution. It provides the ability to control work at all stages and quickly make improvements. The use of such digital platforms contributes to the growth of organizational transparency and the development of team models of work, which ultimately facilitates such a transformation.

The Data Room system has several important advantages:

  • thanks to working with this digital platform, each employee in the process of performing professional duties saves on average up to 30% of his working time. This significantly increases the productivity of the entire enterprise.
  • working with the Data Room applications is fairly straightforward and intuitive. Work training is carried out rather quickly and does not require much time and investment.
  • simplification of interaction between company employees. Thanks to various methods of communication, such as mail, chat, and other employees of the company, they quickly and easily exchange all the necessary information.

How to set up Data Room software?

A modern Data Room can be accessed via the browser, for example. So there is no need to install the service. You can also access your data on the go via the app. This allows you or your business partners to access your protected documents from anywhere with the help of an internet-enabled device,

So, there are several important steps for VDR software download. You have to book the corresponding license for this in your Data Room provider administration area for a fee – you, therefore, need admin rights in order to be able to book Data Rooms. To create a Data Room if the option is available, however, a full license with the appropriate authorization is sufficient.

In the user administration, you will find the menu item “Booking” – here you can get your Data Room license. To make the booking, first, go to the administration menu and then click on the three dots in the top right corner. Now click on “Booking” in the drop-down menu. On the next page select the menu item “Booking” again. Here you can add and reduce licenses, additional storage space, and Data Rooms. Confirm your selection by clicking on “Book for a fee” at the bottom right – done.

Next, you need to set up a Data Room. To do this, either create a new box or select an existing privacy box in which you are a member and for which you have administrative rights. When you create a new box, the new option “Data Room” is now available to you in addition to “Temporary Privacy Box” and “Privacy Box”.

Now select the menu item “Data Room” at the top. Here you can, for example, request a mandatory declaration of consent from all participants, which must be accepted before first access. In principle, the number of users in a data room is not limited.